Puerto Rico Downgrade Was Expected And Priced InVW Staff
Ratings agency Standard & Poor's downgraded Puerto Rico’s debt to BB+ from BBB- citing liquidity concerns that could force the commonwealth to resort to heavy expenditure cuts or raise revenues sharply. The downgrade pushed Puerto Rico’s credit rating from investment grade to junk grade. Worse, S&P had its debt on a negative watch, signifying that further downgrades were possible.
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